Legal adviser to Trump's new crypto company is accused of trying to take control of a rival company

The legal advisor to the former president Donald Trump's new cryptocurrency company, World Liberty Financial (WLFI), a new decentralized finance (DeFi) platform, has been accused of attempting to take control of another digital asset company.

What happened: Alex Golubitskythe general counsel of World Liberty Financial, was previously fired from another cryptocurrency company. savouryin January 2023.

After his firing, Golubitsky allegedly tried to take over Umami, according to the company's CEO. Alex O’DonnellBusiness Insider reported, citing court documents.

Trump announced his connection to World Liberty Financial on Monday, but his official role remains unclear.

In a white paper from the company, he is listed as the “top crypto advocate.” Three of Trump's children, including his youngest son Barron Trumpare also linked to the project.

See also: $63,000 worth of Bitcoin snagged in a $33 trading card pack at GameStop: ‘Unbelievable’ story goes viral and sheds light on crypto redemption card

After his firing from Umami, Golubitsky and another former employee reportedly appointed themselves to Umami's board of directors and attempted to seize the company's intellectual property.

A vice chancellor of the state of Delaware ruled in O'Donnell's favor last year, awarding him more than $375,000 in attorney fees and court costs, the report shows.

Other key employees of World Liberty Financial, including Chase Herro And Zachary Folkmanwere also checked for their professional background.

Your previous crypto company, Dough financingwas hacked this summer, resulting in over $2 million worth of user assets being stolen.

Why it is important: Trump's foray into the crypto space with World Liberty Financial was officially announced during a live Xearlier Þjórsárdalur, Shared areas Event with which he officially supports blockchain technology.

His interest in cryptocurrencies was largely influenced by the success of his NFT collection and the influence of his children, the former president said.

The project has already raised concerns. ether Co-founder Charles Hoskinson and expressed concerns that the platform could become a political issue.

The 2024 election results could also have significant implications Bitcoin Price, with a Trump victory potentially pushing Bitcoin to new heights, according to a Bernstein report.

Read more:

Disclaimer: This content was created in part with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Image created using photos on Shutterstock